\n<\/div><\/div>\n<\/div>\n<\/div>\n

By Kerry Smith<\/div><\/div>\n

Inflation hasn\u2019t pushed mortgage rates higher because the market believes it\u2019s only temporary, says Freddie Mac chief economist. <\/span><\/span><\/p>\n<\/div>\n

MCLEAN, Va. \u2013 This week\u2019s average mortgage rates fell a bit more, to 2.93% from last week\u2019s 2.96% for a 30-year, fixed-rate loan, according to Freddie Mac\u2019s weekly update.<\/span><\/span><\/p>\n

In times of rising inflation, mortgage rates begin to rise. However, that hasn\u2019t happened this time, at least so far.<\/span><\/span><\/p>\n

\u201cMortgage rates continue to drift down as markets concur with the view that inflation increases are temporary,\u201d says Sam Khater, Freddie Mac\u2019s chief economist.<\/span><\/span><\/p>\n

\u201cWhile mortgage rates are low, purchase demand has weakened over the last couple of months, primarily due to affordability constraints stemming from high home prices,\u201d Khater adds. \u201cWith inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller\u2019s market.\u201d<\/span><\/span><\/p>\n

Mortgage rates for the week of June 17, 2021<\/strong><\/span><\/span><\/p>\n

\n
The 30-year fixed-rate mortgage averaged 2.93% with an average 0.7 point for the week, down from last week\u2019s 2.96%. A year ago, the 30-year FRM averaged 3.13%.<\/span><\/span><\/li>\n
The 15-year fixed-rate mortgage averaged 2.24% with an average 0.6 point, up slightly from last week\u2019s 2.23%. A year ago, the 15-year FRM averaged 2.58%.<\/span><\/span><\/li>\n
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.52% with an average 0.3 point, down from last week\u2019s 2.55%. A year ago, it averaged 3.09%.<\/span><\/span><\/li>\n<\/ul>\n
\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
Go to Source<\/a>
\nAuthor: marlam<\/p>\n","protected":false},"excerpt":{"rendered":"
By Kerry Smith Inflation hasn\u2019t pushed mortgage rates higher because the market believes it\u2019s only temporary, says Freddie Mac chief economist. MCLEAN, Va. \u2013 This week\u2019s average mortgage rates fell a bit more, to 2.93% from last week\u2019s 2.96% for a 30-year, fixed-rate loan, according to Freddie Mac\u2019s weekly update. In times of rising inflation, mortgage rates begin to rise. However, that hasn\u2019t happened this time, at least so far. \u201cMortgage rates continue to drift down as markets concur with the view that inflation increases are temporary,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cWhile mortgage rates are low, purchase demand has weakened over the last couple of months, primarily due to affordability constraints stemming from high home prices,\u201d Khater adds. \u201cWith inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller\u2019s market.\u201d Mortgage rates for the week of June 17, 2021 The 30-year fixed-rate mortgage averaged 2.93% with an average 0.7 point for the week, down from last week\u2019s 2.96%. A year ago, the 30-year FRM averaged 3.13%. The 15-year fixed-rate mortgage averaged 2.24% with an average 0.6 point, up slightly from last week\u2019s 2.23%. A year ago, the 15-year FRM averaged 2.58%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.52% with an average 0.3 point, down from last week\u2019s 2.55%. A year ago, it averaged 3.09%. \u00a9 2021 Florida Realtors\u00ae Go to Source Author: marlam<\/p>\n","protected":false},"author":4,"featured_media":5223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5222"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=5222"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5223"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}